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<keyword id="4551565" type="General" weightage="50" keywordseo="edelweiss-asset-management-ltd" source="Orion">Edelweiss Asset Management Ltd</keyword> has launched 'Edelweiss Gold and <keyword id="14800318" type="General" weightage="100" keywordseo="silver-etf-fund-of-fund" source="Orion">Silver ETF Fund of Fund</keyword>', which will open for subscription today and closes on September 7. "Edelweiss Gold and Silver ETF Fund of Fund is suitable for investors seeking to invest in asset classes that can aid portfolios during the downturn. It can help investors offset the volatility in their equity portfolios. Both metals have underperformed in recent times and the dollar index, which has an inverse correlation with gold and silver, may weaken in the near term, hence, it could be a good time to invest in gold and silver at this point in time," said <keyword id="144969" type="General" weightage="80" keywordseo="radhika-gupta" source="Orion">Radhika Gupta</keyword>, <keyword id="14800319" type="General" weightage="20" keywordseo="md-ceo-edelweiss-asset-management-limited" source="Orion">MD &amp; CEO Edelweiss Asset Management Limited</keyword>. Gold and silver have proven to be popular investment tools in current times as they offer a hedge against inflation. These precious metals also have a low correlation with equities and therefore offer you better diversification. Compared to physical gold and silver, the <keyword id="6354820" type="General" weightage="50" keywordseo="mutual-fund" source="Orion">Mutual Fund</keyword> structure offers greater convenience, affordability, and liquidity. A mix of gold and silver is ideal as gold performs well during the recession while silver outperforms during precious metal bull rallies. Both provide a good hedge against inflation in the long run and have low correlations with equities. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/brick-and-mortar-retailers-are-growing-and-fuelling-e-retail-growth-too/articleshow/93749847.cms">Brick and mortar retailers are growing and fuelling e-retail growth too</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/asus-zenbook-s-13-oled-review-a-sleek-all-purpose-ultrabook-at-a-premium/articleshow/93749502.cms">Asus Zenbook S 13 OLED review – a sleek all-purpose ultrabook at a premium</a>

Edelweiss AMC's gold and silver ETF Fund of Fund opens for subscriptions today

HangoutwithBI Diwali special with Radhika Gupta and Nalin Moniz

‘Have seen an IPO season like no other’, Radhika Gupta and Nalin Moniz on flurry of IPOs this season

New Delhi, July 15 (IANSlife) Bollywood actress Radhika Apte feels "it's important to sometimes not do anything and take a break". "There is so much going on in the world, I am just happy staying put and not thinking of the future because there is much uncertainty out there. I am just taking each day at as it comes," Radhika tells IANSlife. The "Andhadhun" actress shares she is spending most of her time during the lockdown "doing nothing. But eating well, sleeping a lot, exercising, walking and watching and reading. The only thing I have missed is seeing my mum, my family." The actress, who confirmed she hasn't resumed working, recently launched a new watch The Iconic Link Lumine from Daniel Wellington. Radhika has been associated with the brand as its ambassador for three years now. Speaking about her personal style, Radhika shares: "I love its simplicity and elegance... I am somebody who loves minimalism. I like to keep it very clean and simple." Asked if she swears by brands, the actress replied: "I don't really swear by brands as such. Like, I was a brand person earlier; actually my work made me more aware of brands, and designs and fashion. Also, certain important things like skincare and haircare, I have tried and tested so many things and have personally taken interest in so many products of different brands." (Puja Gupta can be contacted at puja.g@ians.in) --IANS pg/tb/

It's important to sometimes not do anything: Radhika Apte

<ul><li>Most economists believe that a 25-basis-point rate hike in April is almost certain. </li><li>This is after the February CPI inflation print came in at 6.44% – a number that is slightly lower than January’s print of 6.52%, but still above the Reserve Bank of India’s upper tolerance limit of 6%. </li><li>The <keyword id="117388" type="General" weightage="80" keywordseo="us-fed" source="Orion">US Fed</keyword>, which has so far led rate hike action, is expected to take a pause in March due to the collapse of Silicon Valley Bank and Signature Bank. </li></ul>Shaktikanta Das-led Monetary Policy Committee (MPC) is expected to hike the <keyword id="43352" type="General" weightage="20" keywordseo="Repo-rate" source="Orion">repo rate</keyword> by 25 basis points (bps) come April, as retail inflation continues to remain hot and above the central bank’s upper tolerance limit of 6%. This is despite the fact that the recent collapse of Silicon Valley Bank and Signature Bank in the US has resulted in<a href="https://www.businessinsider.in/policy/economy/news/the-godot-recession-could-be-pushed-back-further-svb-crisis-could-force-us-fed-to-pause-rate-hikes/articleshow/98612680.cms"> analysts saying</a> the US Federal Reserve is likely to pause its rate hike spree to let the country’s banking system take a breather. While the US <keyword id="45672" type="General" weightage="80" keywordseo="fed" source="Orion">Fed</keyword> has led other central banks in raising interest rates so far, the Reserve Bank of India (<keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword>) could stick to its guns regardless of what the Fed does on March 22, when it meets to decide the direction of its monetary policy, analysts say. “The RBI will remain hawkish in the April policy as inflation prints have spiked back over 6% in January-February along with core inflation remaining sticky above 6%. We continue to expect a 25 bps repo rate hike in the April policy,” said Suvodeep Rakshit, senior economist, Kotak Institutional Equities. Hundred basis points make up a percentage point. <cmsannotation type="cmsannotation" annotationid="Hot inflation, hawkish Das" comment="subhead" text="Hot inflation, hawkish Das">Hot inflation, hawkish Das</cmsannotation> Inflation running hot could also result in RBI’s Das maintaining his hawkish stance. Announcing the last rate hike in February, Das noted that core inflation has remained sticky. “On balance, the Monetary Policy Committee (MPC) was of the view that further calibrated monetary policy action is warranted to keep inflation expectations anchored,” Das had said at the time. Since then, the inflation numbers have not been encouraging – the<a href="https://www.businessinsider.in/india/news/economists-are-shocked-concerned-and-worried-as-retail-inflation-hits-3-month-high-in-january/articleshow/97900258.cms"> January inflation</a> print came as a shocker, with the consumer price index (CPI) inflation rising from 5.72% in December to 6.52% in January. It was <a href="https://www.businessinsider.in/finance/news/retail-inflation-sees-marginal-fall-to-6-44-in-february-2023/articleshow/98610218.cms">6.44%</a> in February. This has prompted <a href="https://www.businessinsider.in/finance/news/inflation-expected-to-cool-down-but-economists-expect-another-rate-hike-after-january-shocker/articleshow/97983231.cms">analysts to suggest</a> that RBI could go in for another 25 bps hike in April, taking the repo rate to 6.75% and the quantum of hikes to 275 bps since May 2022. “We also believe that a 25-basis-point hike in April by the RBI is almost certain,” said Nikhil Gupta, chief economist at Motilal Oswal, adding that the worst of inflation was likely behind us. RBI’s next bi-monthly monetary policy meeting is scheduled for April 6. <cmsannotation type="cmsannotation" annotationid="April hike certain according to most economists" comment="subhead" text="April hike certain according to most economists">April hike certain according to most economists</cmsannotation> Despite the adverse developments in the US banking system, most analysts maintained that a 25 bps hike in April is almost a given. “We do think the upcoming meeting in April is going to be another 25 basis points hike, but thereafter we think the monetary policy committee is going to be divided,”<a href="https://www.businessinsider.in/finance/banks/news/rbi-may-hike-benchmark-lending-rates-by-25-bps-in-april-dbs/articleshow/98607945.cms"> said</a> Radhika Rao, senior vice president and economist, DBS Bank. On the other hand, according to Siddhartha Sanyal, chief economist and head of research at Bandhan Bank, the developments in the banking sector in the US “will likely have a bearing on the Fed’s course of action, and, thereby, on monetary policy across countries.” In conjunction with the drying up of excess liquidity in the Indian banking system, the “bar for further hike in the repo rate has moved higher,” according to Sanyal. Economists at SBI Research have pushed back their estimates by a month for inflation cooling down to 5% – they now see it happening by April, from March earlier. “Inflation will decline materially and come down to 5% by April 2023. For Q1 FY24, we expect an average CPI of 5.1%,” said a report by SBI Research. RBI has projected CPI inflation at 6.4% for FY23 and 5.3% for FY24. While the April rate hike is almost certain now, further hikes will depend on whether or not there are more inflation shockers in store. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/indian-banks-pass-jefferies-silicon-valley-bank-test-brokerage-finds-them-well-placed/articleshow/98628328.cms">Indian banks pass Jefferies’ Silicon Valley Bank test, brokerage finds them ‘well placed’</a> <a href="https://www.businessinsider.in/policy/economy/news/the-godot-recession-could-be-pushed-back-further-svb-crisis-could-force-us-fed-to-pause-rate-hikes/articleshow/98612680.cms">The ‘Godot’ recession could be pushed back further, SVB crisis could force US Fed to pause rate hikes</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-stocks-rally-after-group-prepays-2-15-billion-margin-linked-loans/articleshow/98601176.cms">Adani stocks rally adds ₹2.61 lakh crore to group market cap in March so far</a>

RBI largely expected to hike repo rate by 25 bps in April even as US Fed expected to take a pause

<ul><li>Income tax bonanza for the salaried class and the government’s capital expenditure push have emerged as the stars of Budget 2023-24.</li><li>While the income tax exemptions are expected to increase disposable incomes of taxpayers and thereby boost demand, the capex push is aimed at promoting growth and increasing job opportunities, say experts.</li><li>The government also announced a slew of measures for the agriculture and green energy sectors, promoting the use of technology to boost output and transition to green energy.</li></ul>An upward revision in income tax slabs and a continued push on capital expenditure investments emerged as the key highlights of the Union Budget 2023-24. While the revised tax slabs under the new tax regime will benefit the middle-class and salaried individuals, the government also announced a 33% increase in its capital investment outlay for FY24 to boost growth and promote job creation. “We are steering an ambitious people-centric agenda to address global challenges and to facilitate sustainable economic development,” finance minister Nirmala <keyword id="679937" type="General" weightage="80" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> said, announcing the budget. Despite an increase in capital expenditure outlay, the government has continued on its path of fiscal consolidation. Sitharaman said that while the government will meet the fiscal deficit target of 6.4% in FY23, it has been reduced to 5.9% in FY24, and further below 4.5% in FY 25-26. Sitharaman also announced that the gross borrowings are estimated at ₹15.43 lakh crore in FY24, lower than the Economic Survey 2023 estimate of ₹15.77 lakh crore. “This budget is a Bahubali budget. With one arrow multiple targets are shot. Fiscal prudence is achieved with lower deficit and path set till FY26. Consumption is supported through tax cuts. Investment outlay is enhanced. Numbers are realistic or conservative to enhance the credibility,” said Nilesh Shah, managing director, Kotak Mahindra Asset Management Company. <cmsannotation type="cmsannotation" annotationid="Here are all the major announcements of Budget 2023-24" comment="subhead" text="Here are all the major announcements of Budget 2023-24">Here are all the major announcements of Budget 2023-24</cmsannotation> Slabs for income tax computation enhanced under the new regime: Under the new income tax regime, individuals with an annual income of up to ₹9 lakh will now have to pay an income tax of ₹45,000, which is an effective tax rate of 5%. The government has also increased the limit for rebate under section 87A of the Income Tax Act to ₹7 lakh from ₹5 lakh earlier. The following are the new tax slabs: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Slab </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tax rate </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹0-3 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3-6 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6-9 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9-12 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12-15 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15 lakh and above </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> In addition to this, there’s good news for salaried individuals as well, with the standard deduction being hiked to ₹52,500 from ₹50,000 earlier. Further, the tax exemption limit for leave encashment has been raised from ₹3 lakh to ₹25 lakh. Lastly, the new income tax regime will be applicable by default going forward. However, assessees will have an option to opt out and file their returns under the old regime. “More money in the hands of the middle class will have a cascading effect across the economy which needs this push as we continue to depend on domestic demand to beat the global uncertainty,” Sanjeev Krishan, chairperson, PwC in India. Capital expenditure outlay gets a major boost: In a bid to promote growth and job creation, the government has announced a 33% increase in capital expenditure outlay to ₹10 lakh crore for FY24, or about 3.3% of the gross domestic product (GDP). The capex outlay for FY23 is estimated at ₹7.5 lakh crore. Sitharaman outlined that infrastructure is one of the seven priorities of the government, which is now backed by the 33% increase in capex outlay for this segment. Overall, the government’s capex outlay has increased over three-fold from ₹3.1 lakh crore in FY19 to ₹10 lakh crore in FY24. Here’s how the government’s capex spending has trended since 2019 <div type="image" title="Capex spending FY19-FY24." msid="97524051" hostid="261" sizebytes="16064" caption="&amp;lt;p&amp;gt;Indian government&amp;#39;s capex spending trends since FY19&amp;lt;/p&amp;gt;"></div> “This is a positive development for domestic commercial vehicle space and more so for medium and heavy commercial vehicle (M&amp;HCV) domain,” said ICICI Direct. The government announced an allocation of ₹2.7 lakh crore for roadways and ₹2.4 lakh crore for railways. “A 33% increase in capital expenditure to ₹10 lakh crore, the highest ever, will go a long way in building roads, ports, and airports — crucial for making India a reliable investment destination. Investment of ₹2.4 lakh crore in railways is commendable,” said Anand Rathi, founder and chairman, Anand Rathi Group. Apart from this, Sitharaman also announced an outlay of ₹10,000 crore per annum to develop urban infrastructure. The government has also announced a 66% increase in funding for the PM Awaas Yojana to ₹79,000 crore in FY24, which will benefit engineering, production and construction companies. Further detailing the infrastructure push, Sitharaman said that the government has identified 100 critical transport infrastructure projects for steel, ports, fertilizers and other sectors with an investment outlay of ₹75,000 crore, which includes a private sector investment of ₹15,000 crore. Agri Accelerator Fund to encourage innovation: In a bid to promote the adoption of technology in the agriculture sector, the government announced a new Agri Accelerator Fund to promote agri-tech startups in rural areas, with a cluster-based and value chain approach through public-private partnerships. “The proposal to set up an Agri Accelerator Fund for agri-tech startups is a welcome move, and was much anticipated. Agri-tech startups who are focusing on improving the market reach for agricultural products and produce, as well as last mile delivery of products to farmers should benefit from this move,” said Raj Ramachandran, partner, JSA. Sitharaman also announced a slew of measures for the agriculture sector, which are: <ul><li>Increase in agriculture credit target to ₹20 lakh crore, with a special focus on animal husbandry, dairy and fisheries.</li><li>A new sub-scheme of PM Matsya Sampada Yojana with a targeted investment of ₹6,000 crore to further enable activities of fishermen and fish vendors.</li><li>Computerisation of 63,000 primary agricultural credit societies with an investment outlay of ₹2,516 crore.</li></ul>Green energy ambitions get a boost: The government also announced a slew of measures to encourage and promote green energy in India, including ₹35,000 crore priority capital for transition from fossil fuels to green energy. Of this, the specific outlay for National Hydrogen Mission has been set at ₹19,700 crore. The government has set a target of 5 million metric tonnes of hydrogen production capacity by 2030. Key players in the hydrogen space are Mukesh Ambani and Gautam Adani. Their green energy bets, primarily based on green and blue hydrogen, amount to $125 billion. <cmsannotation type="cmsannotation" annotationid="‘Force multiplier’ budget, say analysts" comment="subhead" text="‘Force multiplier’ budget, say analysts">‘Force multiplier’ budget, say analysts</cmsannotation> Overall, the budget has been well-received by experts, with the broad consensus being that this is a growth-oriented budget. “Growth with fiscal consolidation continues to be the continuing theme with capital expenditure at 3.3% of GDP while being committed to the long term 4.5% deficit target. Providing more incentives under the new tax regime to middle class Indians, will also widen the net of those who can invest,” said Radhika Gupta, MD and CEO, Edelweiss Asset Management. Sensex zoomed 1,180 points reacting to the tax announcements made by the government. The tax exemptions under the new regime will increase the disposable income in the hands of taxpayers, according to ICICI Securities, helping boost demand. “In keeping with its focus on inclusive growth, the Union Budget has hiked outlays on infrastructure and agriculture which in our view would have a force multiplier impact on the economy,” said S Ranganathan, head of research at LKP Securities. According to economists, the reduction in fiscal deficit targets for FY24 through FY26 will also offer relief for bond markets, with the 10-year bond yield projected to moderate to 7-7.1% in FY24, according to Abheek Barua, chief economist, HDFC Bank. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-zooms-as-finance-minister-delivers-tax-bonanza-to-middle-class/articleshow/97510050.cms">Sensex zooms 1,180 points as FM delivers tax bonanza to middle-class</a> <a href="https://www.businessinsider.in/budget/news/budget-2023-24-nirmala-sitharaman-speech-highlights-and-updates/articleshow/97512649.cms">Budget 2023-24 highlights: Those with income below ₹7 lakh a year need not pay income tax</a> <a href="https://www.businessinsider.in/budget/news/government-to-set-up-three-centres-of-excellence-in-artificial-intelligence/articleshow/97520242.cms">Budget 2023 gives a boost to artificial intelligence – government to set up three centers of excellence</a>

Income tax bonanza, capex push emerge as the stars of Budget 2023-24

<ul><li>On April 28, <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> released a circular asking mutual fund companies to provide 20% of salary in <keyword id="44804" type="COUNTRY" weightage="20" keywordseo="MF">MF</keyword> units to key employees. </li><li>The move came after the <keyword id="74229" type="PERSON" weightage="20" keywordseo="Franklin-Templeton">Franklin Templeton</keyword> fiasco to align the interest of the key employees with that of investors. </li><li>The heads of several mutual fund companies are disappointed as the new rule by SEBI translates 20% of their salary into mutual fund units. </li></ul>On April 28, 2021, SEBI informed the asset management companies (AMC) to provide a minimum of 20% salary/perks/bonus/non-cash compensation of key employees in the form of a mutual fund unit. The idea was to align the interest of the key employees with that of investors. A mutual fund unit is a portion of one’s investment from the pool of funds set by the mutual fund company. The move came after the Franklin Templeton <a href="https://economictimes.indiatimes.com/mf/analysis/how-franklin-fiasco-happened-and-what-we-learnt-from-it/articleshow/82210625.cms">fiasco </a>wherein the fund house one day suddenly closed six debt mutual fund schemes overnight citing poor liquidity condition in debt markets due to the pandemic-induced crisis. This led to panic among investors who were unable to access their investment thereon. The new mandate by the market’s regulator is applicable for key employees including chief executive officer (CEO), chief investment officer (CIO), chief risk officer (CRO), chief information security officer (CISO), chief operation officer (COO), fund manager, compliance officer, sales head, investor relation officer (IRO), heads of other departments and dealers of the AMC. Direct reportees to the CEO (excluding personal assistant/secretary), fund management team and research team are also included in this list. “After the Franklin Templeton incident, there is no enthuthiasm among newcomers to join the industry. Basically, it is no more an attractive career opportunity with so many regulations in place. These professionals would prefer working in a private equity, PMS (portfolio management services), AIF (alternative investment funds), fintech company which has less regulatory complications. With this, top talents will have one more reason to not choose the mutual fund industry as a career option,” said the chief executive of one of the top mutual fund companies on condition of anonymity. There is complete misalignment of mandatory investment for employees with varied risk appetite and investment time horizon, he added. “The circular on skin in the game, while a good idea in spirit, is going to be extremely problematic in implementation. This circular applies to not just senior employees but junior research staff, dealers, and support function heads. These people don’t earn the kind of money CEOs and CIOs do,” said Radhika Gupta, managing director and CEO of <keyword id="222564" type="COMPANY" weightage="20" keywordseo="Edelweiss-Mutual-Fund">Edelweiss Mutual Fund</keyword> in <a href="https://twitter.com/iradhikagupta/status/1387433870623055880?lang=en">a tweet </a>on April 28, the day SEBI released this circular. “It is forcing them to lock 20% of their income for 3 years. It mandates how much one saves. For a guy earning ₹15-20 lakh [in a year], imagine how difficult it is to put away ₹3-4 lakh [per annum]. We are constraining employee cash flows. Just because I run a mid-cap fund doesn’t mean this is my risk appetite. And a liquid fund manager has to park money in liquid funds for 3 years,” she added. In simpler terms, why would a 30-year-old fixed income fund manager invest a significant portion of his salary in a debt scheme. The objective of a debt fund is to grow wealth in a stable manner with typically lower returns and low risk compared to equity funds. Further, the fund houses have addressed these concerns to SEBI through Association of <keyword id="6357979" type="UNKNOWN" weightage="20" keywordseo="mutual-funds">Mutual Funds</keyword> in India (AMFI). It expects some sort of relief from the regulator in terms of reducing the percentage of salary to be given in MF units and cutting some junior level employees from the initiative. Considering this, SEBI has deferred the implementation of the new compensation norms by three months to October 1, 2021. The new rules were supposed to come into effect from July 1, 2021. 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Getting a senior level job in a mutual fund company may not be so attractive after SEBI rule of giving 20% salary in MF units

Trigger Warning: Some may feel that the following content is disturbing. <ul><li>A UNICEF report reveals that around 14% of young people aged between 15-25 years or 1 out of 7 people often feel depressed or face some <keyword id="6354774" type="General" weightage="20" keywordseo="Mental-Health" source="Orion">mental health</keyword> related issues in India.</li><li>The <keyword id="8902449" type="General" weightage="20" keywordseo="COVID-19-pandemic" source="Orion">COVID-19 pandemic</keyword> has hit harder on young people and adolescents, as half of them reported that they or someone in their family had lost a job or taken a cut in pay.</li><li>Women who suffer from mental health issues are more likely to invite other diseases, especially problems related to fertility and menstruation.</li><li>Business Insider spoke to senior psychiatrist Dr. <keyword id="1808876" type="General" weightage="20" keywordseo="jyoti-kapoor" source="Orion">Jyoti Kapoor</keyword> to gain some perspective on this issue.</li></ul> A 21-year old girl, who recently graduated from Delhi University, says she has been facing anxiety issues for the last four years. The girl, who wanted to remain anonymous because of privacy concerns, suffered from massive anxiety issues for the first time when she had to appear for her board exams in class 12. Now, she has graduated from her college and is still thinking about what career path to choose. She says, “Whenever someone asks me about my future plans, I start panicking because I’ve nothing to tell. I graduated during the pandemic and I’m still undecided about my career.” It is not only students or fresh graduates who go through periods of anxiety and depression. More and more women, especially from Generation Z — persons born in the mid-to-late 1990s — seem to be open about their mental health concerns. Radhika Gupta, a 23-year old woman from Delhi, who has her own business of handicraft products shares her mental health journey with Business Insider. “Whether you do a 9-5 job or you start your own company, the professional world comes handy with overthinking, stress, tension and whatnot. It’s like I’m already so used to this habit of overthinking and [being] tense all the time, that now I don’t feel like it's a problem anymore,” says Gupta. She highlights some major issues that she faces on an everyday basis because of her gender. “I have given my number on my Instagram page named ‘Handflys’ for customers who want to place an order for my products. And, on an everyday basis, I receive inappropriate messages and calls. I ignore this most of the time, but sometimes I’m so tense and can’t stop thinking about it.” Another 25-year old woman, a public relations specialist who recently got married, spoke to Business Insider on the condition of anonymity. She talks about how unmanageable her life has become after getting married. She has to manage her work as well as her home — cook meals and take care of her new in-laws. She says, “I wake up at 6 in the morning and I don’t know where all my time goes. I start my office work at 9 a.m., and before that I’m responsible for making breakfast for everybody. I even have to take several breaks in between my office hours as I have to cook lunch and dinner as well. Sometimes it becomes unmanageable for me to handle both the things, I often feel like quitting my job as I don’t have time for myself or do something that makes me feel happy.” According to a report, dated October 5, 2021, by the United Nations Children's Fund (UNICEF), around 14% of young people aged between 15-25 years or 1 out of 7 people often feel depressed or face some mental health-related issues in India. And also, children of this group in India have been more resistant in seeking support for these issues, as per the report. People who face these issues, also find themselves distracted or uninterested most of the time, the report says. The report also notes that as the COVID-19 pandemic heads into its third year, the impact on children and young people's mental health continues to weigh heavily. The reason behind this has a lot of key driving factors. As per the Indian Journal of Psychiatry, even before the pandemic, at least 50 million children in India were affected with mental health issues and 80-90% of them have not even sought professional support. Another report by Pew Research Center <a href="https://www.linkedin.com/pulse/why-gen-z-so-depressed-what-we-can-do-jennifer">highlighted </a>that the pandemic has hit harder on young people and adolescents, as half of them reported that they or someone in their family had lost a job or taken a cut in pay, and also most of them haven’t yet established their careers and they’ll likely have a harder time getting back on track. To have a better understanding and gain some perspective, Business Insider spoke to Dr. Jyoti Kapoor, senior psychiatrist and founder of Manasthali, an online platform, which provides mental health related services. Kapoor is of the opinion that young people are succumbing to <keyword id="24492" type="General" weightage="20" keywordseo="Mental-health-problems" source="Orion">mental health problems</keyword> far more today than compared to a few years back. “We see a lot of stimulation, a huge amount of information regarding anything is out there and this information exposes us to a lot of conflicts. A younger mind is not ready to handle those conflicts. So the stress levels are pretty high, especially expectations from ourselves,” says Kapoor. Further talking about stimulus, she also highlights that people of this age group (15-25) are almost starters or freshers who are just entering the professional world or are heading towards career-deciding exams. People of this age group have over the time become more competitive, or have a jealousy factor that shoots up the anxiety and stress level way more, according to Kapoor. “Younger people want to achieve success very fast. People now want to have their own startups, they want to have luxurious items and that can become quite stressful as people don’t want to give up so easily,” she adds. The people who belong to Gen Z are mostly night owls rather than early risers as compared to millennials, says Kapoor. A study cited by The Economic Times in 2018 <a href="https://economictimes.indiatimes.com/magazines/panache/sleepless-in-the-city-53-per-cent-indians-go-to-bed-late-thanks-to-facebook-instagram/articleshow/65559905.cms">revealed</a> that 53% of Gen Z population in India go to bed late or sleep late due to gadgets or social media scrolling. “Not only people using social media or watching Netflix, the globalisation of work culture has also eradicated the sleep culture. People more often come across work-related situations at night, which disrupts their sleeping patterns.” — Dr. Jyoti Kapoor, a senior psychiatrist Mental health not only disrupts your peace of mind, but it brings out a chain of side effects in your body. Women who suffer from mental health issues are more likely to invite other diseases, especially problems related to fertility and menstruation. “PCOS [Polycystic Ovarian Syndrome] and PCOD [Polycystic Ovarian Disease] are one [sic] of the major psychosomatic problems. As it is a problem of hormonal imbalance, it requires treatment of stress management. Mental health can also bring you infertility issues. Higher the person is stressed, the lower will be the chances to conceive,” Kapoor highlights. A report by<a href="https://www.thehindu.com/sci-tech/health/one-in-five-indian-women-suffers-from-pcos/article29513588.ece"> The Hindu </a>says that one in five women in India suffer from (PCOS) or (PCOD). These are hormonal disorders in women, which affect their reproductive system. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/world-mental-health-day-2021-how-to-avoid-depression-in-kids-and-teens/articleshow/86886330.cms">World Mental Health Day 2021: How to avoid depression in kids and teens</a>

Are GenZ women suffering more from mental health issues?

New Delhi, Dec 4 () The government's decision to launch an umbrella debt exchange-traded fund will provide a better opportunity to retail investors for participation in quality public sector bonds at an affordable cost, experts said on Wednesday.
They further said the move would also help in deepening and widening the participation in the Indian corporate bond market.
The Union Cabinet has approved the launch of exchange traded fund (ETF) for bonds to create an additional source of funding for Central Public Sector Enterprises (CPSEs) and state-owned financial institutions.
The New Fund Offer (NFO) of this ETF is expected be to launched during December itself. 
Bharat Bond ETF would be the first corporate bond ETF in the country.
 "It's a historic occasion for retail investors as also for the Indian corporate bond market, for retail investors as they would now be able to invest in an altogether new liquid avenue in quality Public sector Bonds, through the very low-cost ETF structure," N S Venkatesh, Chief Executive at AMFI said on the Cabinet approval to bond ETFs.
 "And for the economy, as the country's first exchange-traded bonds belonging to quality public sector enterprises bundled in a liquid low-cost ETF structure, would help in deepening and widening the participation in the Indian corporate bond market," he added.
ETF will be a basket of bonds issued by state firms or any government organisation, and will be tradable on exchange. The unit size will be of Rs 1,000, which will allow small investors to invest.
Edelweiss Asset Management Company (AMC), which will manage the government's debt ETF, said Bharat Bond ETF will be a diversified basket of public sector company bonds aimed at providing easy access for retail investors to invest in these bonds and bringing liquidity in the corporate bond market. 
"It will also help these companies with new source of funding. Initially, the ETF will have two maturities -- 3 years and 10 years -- and will invest in bonds of similar maturities," Edelweiss AMC CEO Radhika Gupta said.
 Rating agency Icra VP and Sector Head- Financial Sector Ratings Anil Gupta said lower ticket size of bond ETF is likely to provide better opportunity to retail investors for participation in corporate debt market with lowest credit risk as the underlying investments are proposed to be in 'AAA' rated PSU debt securities.
"As these securities are proposed to be listed on stock exchanges with involvement of market markers, this will also provide liquidity to the investors. A three-year debt ETF is comparable with a three-year fixed maturity plans (FMPs), however unlike FMPs, which have limited secondary market liquidity, ETFs are expected to have secondary market liquidity," he added.
 Gupta further said investors may however be mindful of the risk which these ETFs will have because of interest rate movements, as during an increasing interest rate cycle, the market price of the ETF units will decline. 
 Interest rate risk will however be lower in shorter tenure ETFs, and if held till maturity, the interest rate risk will also be mitigated as the ETFs will be redeemed at face value on maturity.
"Bharat Bond ETF from Edelweiss AMC offers greater opportunities to invest in debt investments at an affordable cost. This is a positive development as far as Indian debt market is concerned," said Tarun Birani, founder and CEO of TBNG Capital Advisors. 
Moreover, of the total mutual fund assets under management of Rs 25 lakh crore, share of MF debt is about Rs 11 lakh crore and this shows the potential for this opportunity, he added. SP

 
 
 
 
 
 ANU

Debt ETF to give opportunity to retail investors to invest in quality PSU bonds: Experts

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The world is going online and to find quality talent, even companies seem to be looking for the right match on social platforms. 
 <keyword id="28120" type="CITY" weightage="20" keywordseo="Linkedin">LinkedIn</keyword> released the list of recruiters in India who have been ahead of the curve when it comes to recruiting smartly. 
 
<a href="http://www.businessinsider.in/this-fitbit-survey-reveals-that-indians-are-the-worlds-second-worst-sleepers/articleshow/57690294.cms">ALSO READ: This Fitbit survey reveals that Indians are the world’s second worst sleepers</a> 
 
From helping professionals discover and explore their dream jobs to fueling business growth, these recruiters continue to reimagine possibilities. 
 The <keyword id="4328594" type="UNKNOWN" weightage="20" keywordseo="top-social-recruiters">top social recruiters</keyword> list of 2017 includes professionals from start-ups, internet businesses, and technology companies. These top recruiters are ranked based on their effectiveness in attracting and hiring quality talent using LinkedIn. 
 
<a href="http://www.businessinsider.in/the-tale-of-tata-nullore-estate-coffee-that-made-it-to-the-starbucks-reserve-in-seattle/articleshow/57792529.cms">ALSO READ: The tale of Tata Nullore Estate coffee that made it to the Starbucks Reserve in Seattle</a> 
 The list was compiled based on each recruiter’s <keyword id="1771082" type="UNKNOWN" weightage="20" keywordseo="LinkedIn-Recruiter">LinkedIn Recruiter</keyword> Index (<keyword id="4202992" type="UNKNOWN" weightage="20" keywordseo="lri">LRI</keyword>)* for the period starting January 2016 to December 2016. Additionally, engagement level on the platform was also taken into consideration. The list acknowledges multiple recruiters from each organization, recognizing every recruiter’s efforts and contributions. 
 
The recruiters who have made it to the top 5 amongst 40 other social recruiters in India include: 
 
Manish Chandra Gupta, Orange Business Services 
 
Radhika Chandan,VMWARE, INC. 
 
Priyanka Rishi, McKinsey &amp; Company 
 
Tripti Pathak Tripathi, GENPACT 
 
Abhinav Sharma, Orange Business Services 
 
So, go ahead and add these genius talent searchers online to find the job that you deserve. 
 
About LinkedIn Recruiter Index 
 
LinkedIn's Top Social Recruiters showcases the most effective recruiters who have been successful at embracing social recruiting. We ranked talent acquisition professionals based on their effectiveness of attracting and hiring quality talent using LinkedIn. This list was compiled based on each LinkedIn Recruiter user's LinkedIn Recruiter Index (LRI). 
 
<a href="http://www.businessinsider.in/more-than-50-people-in-delhi-sleep-in-their-denims-according-to-this-survey/articleshow/57793628.cms">ALSO READ: More than 50% people in Delhi sleep in their denims in Indian metros, according to this Westside Denim Survey</a> 
 
LRI quantifies a recruiter’s effectiveness at using LinkedIn Recruiter by measuring four essential criteria: 
 
• Build: Establishing a professional presence on LinkedIn with a complete profile 
 
• Find: Efficiently identifying qualified candidates using search and research tools 
 
• Engage: Engaging candidates with personalized conversations 
 
• Manage: Collaborating and organizing your work to maximize team effectiveness and efficiency

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